Exchanges
Liffe to clear credit derivatives in Q4
London-based derivatives exchange Liffe will begin clearing contracts linked to the Markit iTraxx indexes of European credit default swaps (CDSs) during the fourth quarter of 2008.
CFTC closes ‘London loophole’
The Commodity Futures Trading Commission (CFTC) has moved to impose US position limits and hedge exemption requirements on US customers trading West Texas Intermediate (WTI) crude oil on the London-based Ice Futures Europe exchange.
CBOE rights debate could be overcome
A major impediment to the Chicago Board Options Exchange’s (CBOE) planned demutualisation could be overcome by a settlement it presented to its members on June 2.
ICE buys Creditex in bid to access lucrative CDS market
The IntercontinentalExchange (Ice) has agreed to aquire credit derivatives interdealer-broker Creditex in a deal worth $625 million, in an attempt to gain a foothold in the burgeoning credit default swaps (CDS) market.
LME updates plastics contracts
The London Metals Exchange (LME) has altered its plastics derivatives contracts so their terms are more like those of non-ferrous metals contracts listed on the exchange, such as aluminium.
DGCX to launch oil futures
Dubai Gold and Commodities Exchange (DGCX) will launch West Texas Intermediate (WTI) light sweet crude oil and Brent crude oil futures contracts on May 27.
CME Group buys Nymex and offloads metals
Exchange consolidation continued over the weekend, with CME Group buying Nymex, the New York-based metals and energy exchange, and selling its own metals business to the NYSE Euronext group.
Project Rainbow to rival European exchanges
A new trading platform - dubbed Project Rainbow - is being developed by a consortium of major derivatives trading houses to compete with Europe’s exchanges, according to a source at a large European bank.
CME faces competition questions from DOJ
The US Department of Justice (DOJ) has questioned the Chicago Mercantile Exchange's vertical structure, and whether it creates an anti-competitive marketplace. A DOJ letter, dated January 31 and addressed to the US Department of Treasury, argued that the…
EEX and Eurex to launch CER carbon futures
The European Energy Exchange (EEX) and derivatives exchange Eurex will launch futures on certified emission reduction (CER) carbon credits on EEX on March 26.
HKEx introduces new market access products
The Stock Exchange of Hong Kong listed six zero-strike derivative warrants on non-Hong Kong underlying assets on January 30.
CME Group in talks to buy Nymex
Chicago-based CME Group is in preliminary discussions aimed at acquiring the New York Mercantile Exchange (Nymex), the two firms announced on January 28.
Liffe to list options on stock index ETFs
London-based derivatives exchange Liffe is to list options on the iShares FTSE 100 and DJ Euro Stoxx 50 exchange-traded funds (ETFs), which are operated by San Francisco-based asset manager Barclays Global Investors.
SG launches Kuala Lumpur Composite Index warrants in Singapore
Société Générale will launch the first five warrants on the Kuala Lumpur Composite Index (KLCI) to be listed on the Singapore Stock Exchange on January 17.
Dubai oil exchange approved for block trading
The Dubai Mercantile Exchange (DME) received approval yesterday for block trading of its Oman crude oil futures, which will allow traders to submit off-exchange transactions.
Shanghai launches gold futures
The Shanghai Futures Exchange (SFE) will launch trading in gold futures on Wednesday, January 9. The contract size has been set at 1,000 grams, rather than 300g as earlier announced, chiefly to discourage speculation by individual investors.
Donohue: further exchange consolidation ahead
The global exchange industry will see yet more consolidation during 2008, believes Craig Donohue, chief executive of the CME Group in Chicago.
TSX to take over Montreal exchange
TSX Group, which owns the Toronto Stock Exchange, is to buy the Montreal Exchange, after overcoming resistance from its management.
BClear extends into Russian and eastern European stocks
London-based derivatives exchange Liffe added various Russian and eastern European equities to its BClear platform on December 5. The platform provides exchange-like clearing to wholesale over-the-counter equity derivatives trades.
LiquidityHub opens with euro swaps
London-based electronic trading consortium LiquidityHub began offering euro interest rate swaps from 12 major dealers on October 22, slightly later than planned.
CFFEX nears launch as first members announced
The China Financial Futures Exchange (CFFEX) has named its first clearing and trading members.
CBOE and Taifex sign MOU
The Chicago Board Options Exchange (CBOE) and the Taiwan Futures Exchange (Taifex) signed a memorandum of understanding (MOU) on September 6 on the sharing of information for the development of options and other derivatives products.
Liffe lists JP Morgan index future on Bclear
JP Morgan and London-based derivatives exchange Liffe are pairing to launch a bespoke index future on Liffe's Bclear platform on September 10.
DIFX boosts structured products
The Dubai International Financial Exchange (DIFX) has opened its new structured products platform for retail trade, and added products based on local underlyings for the first time.